1.0.0Budget deficits and national debtCongressional oversightForeign loans and debtInternational monetary system and foreign exchangeInternational organizations and cooperationMultilateral development programsInternational Affairs115Bill2HuizengaRep. Huizenga, Bill [R-MI-2]H0010582028H0010587987MIR2017-03-17T04:49:44ZHR[Congressional Record Volume 163, Number 46 (Thursday, March 16, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. HUIZENGA:H.R. 1573.Congress has the power to enact this legislation pursuantto the following:Article I, Section 9, that no money shall be drawn from theTreasury but in consequence of Appropriations made by Law,and a regular Statement and Account of the Receipts andExpenditures of all public Money shall be made from time totime.[Page H2150]]]>157332017-03-16Referred to the House Committee on Financial Services.hsba00Financial Services CommitteeH11100IntroReferral2House floor actions2017-03-16Introduced in HouseIntro-HIntroReferral9Library of Congress2017-03-16Introduced in House1000IntroReferral9Library of Congress111IMF Reform and Integrity ActIMF Reform and Integrity ActShort Titles as IntroducedTo oppose International Monetary Fund participation in foreign-led agreements, reduce moral hazard, and for other purposes.Official Title as IntroducedIMF Reform and Integrity ActDisplay TitleIMF Reform and Integrity Act(Extracted from GPO) Short Titles as Introduced2018-09-19T12:29:29ZHouse2017-03-16Referred to the House Committee on Financial Services.hsba00Financial Services CommitteeReferred to2017-03-16T14:04:25ZHouseStanding2017-03-16002017-03-16Introduced in HouseIntroduced in House2017-10-06T19:42:55Z2017-03-16T04:00:00ZIMF Reform and Integrity Act

This bill amends the Bretton Woods Agreements Act to direct the United States to oppose:

International Monetary Fund (IMF) financing in conjunction with financing by a multilateral organization of which the United States is not a member if such organization's financing would exceed the IMF's financing or the debtor's IMF obligation is not made explicitly senior to the debtor's obligation to the multilateral organization;

any proposal to make additional resources available to the IMF or to increase the quota of any IMF member who is a member of a multilateral organization of which the United States is not a member if, during the previous 24 months, either the IMF has approved or disbursed financing in conjunction with financing provided by such multilateral organization or an obligation to the IMF from such approval or disbursement has not been fully repaid;

any proposed IMF loan to a country about which an IMF staff analytical report finds no high probability that the country's public debt is sustainable in the medium term (currently, only if the proposed loan is not likely to be repaid in full); and

any proposal that would alter IMF criteria for exceptional access lending such that an ineligible country would become eligible for such lending, unless the Department of the Treasury has submitted a justification for such proposal, including its effects on repayment risk.

The bill cancels and rescinds certain deactivated IMF funds.

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